XML 32 R2.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
Rental properties:    
Land and land improvements $ 2,569,733 $ 2,424,930
Buildings and improvements 9,700,056 8,819,751
Total rental properties 12,269,789 11,244,681
Less accumulated depreciation (1,758,887) (1,564,806)
Net real estate 10,510,902 9,679,875
Real estate under development 220,911 429,096
Co-investments 1,044,208 1,042,423
Real estate held for sale, net 0 56,300
Total real estate 11,776,021 11,207,694
Cash and cash equivalents-unrestricted 30,242 25,610
Cash and cash equivalents-restricted 34,910 70,139
Marketable securities and other investments 121,244 117,240
Notes and other receivables 25,676 24,923
Acquired in place lease value 25,907 47,748
Prepaid expenses and other assets 31,004 33,378
Total assets 12,045,004 11,526,732
Liabilities [Abstract]    
Mortgage notes payable, net 2,247,463 2,234,317
Unsecured debt, net 3,093,106 2,603,548
Lines of credit, net 28,762 242,824
Accounts payable and accrued liabilities 146,251 135,162
Construction payable 26,596 30,892
Dividends payable 99,687 88,221
Other liabilities 34,669 32,444
Total liabilities $ 5,676,534 $ 5,367,408
Commitments and contingencies    
Redeemable noncontrolling interest $ 23,830 $ 23,256
Equity:    
Common stock; $0.0001 par value, 656,020,000 shares authorized; 65,042,681 and 63,682,646 shares issued and outstanding, respectively 6 6
Cumulative redeemable 7.125% Series H preferred stock at liquidation value 73,750 73,750
Additional paid-in capital 6,941,629 6,651,165
Distributions in excess of accumulated earnings (731,181) (650,797)
Accumulated other comprehensive loss, net (50,152) (51,452)
Total stockholders' equity 6,234,052 6,022,672
Noncontrolling interest 110,588 113,396
Total equity 6,344,640 6,136,068
Total liabilities and equity 12,045,004 11,526,732
Essex Portfolio, L.P. [Member]    
Rental properties:    
Land and land improvements 2,569,733 2,424,930
Buildings and improvements 9,700,056 8,819,751
Total rental properties 12,269,789 11,244,681
Less accumulated depreciation (1,758,887) (1,564,806)
Net real estate 10,510,902 9,679,875
Real estate under development 220,911 429,096
Co-investments 1,044,208 1,042,423
Real estate held for sale, net 0 56,300
Total real estate 11,776,021 11,207,694
Cash and cash equivalents-unrestricted 30,242 25,610
Cash and cash equivalents-restricted 34,910 70,139
Marketable securities and other investments 121,244 117,240
Notes and other receivables 25,676 24,923
Acquired in place lease value 25,907 47,748
Prepaid expenses and other assets 31,004 33,378
Total assets 12,045,004 11,526,732
Liabilities [Abstract]    
Mortgage notes payable, net 2,247,463 2,234,317
Unsecured debt, net 3,093,106 2,603,548
Lines of credit, net 28,762 242,824
Accounts payable and accrued liabilities 146,251 135,162
Construction payable 26,596 30,892
Dividends payable 99,687 88,221
Other liabilities 34,669 32,444
Total liabilities $ 5,676,534 $ 5,367,408
Commitments and contingencies    
Redeemable noncontrolling interest $ 23,830 $ 23,256
Equity:    
General Partner 6,284,204 6,074,124
Common equity (2,181,076 and 2,168,158 units issued and outstanding, respectively) 46,963 48,665
Accumulated other comprehensive loss, net (48,012) (49,356)
Total partners' capital 6,283,155 6,073,433
Noncontrolling interest 61,485 62,635
Total capital 6,344,640 6,136,068
Total liabilities and equity 12,045,004 11,526,732
Essex Portfolio, L.P. [Member] | General Partner [Member] | Common Capital [Member]    
Equity:    
General Partner 6,212,995 6,002,915
Total capital 6,212,995 6,002,915
Essex Portfolio, L.P. [Member] | General Partner [Member] | Preferred Capital [Member]    
Equity:    
General Partner 71,209 71,209
Total capital $ 71,209 $ 71,209